Multi-Factorized Semi-Covariance of Stock Markets and Gold Price

Complex models have received significant interest in recent years and are being increasingly used to explain the stochastic phenomenon with upward downward fluctuation such as stock market. Different from existing semi-variance methods traditional integer dimension construction for two variables, this paper proposes a simplified multi-factorized fractional derivation exact Excel tool algorithm involving center moment extension covariance, which is complex parameter average that Pearson covariance. By examining peaks troughs of gold price averages, proposed provides more insight into revealing underlying market trends see who financial leader during good economic times. The calculation results demonstrate covariance able distinguish subtle differences among performances prices same field variable may overlook. We take London, Tokyo, Shanghai, Toronto, Nasdaq representative examples.